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Financials

Dutch insurer Aegon suspends dividend following regulator's advise

AMSTERDAM, April 3 (Reuters) - Dutch insurer Aegon on Friday said it would suspend its dividend in light of the global coronavirus outbreak, following a strong call by the European watchdog to insurers to scrap all payments to shareholders.

The European Insurance and Occupational Pensions Authority (EIOPA) on Thursday said it was essential for insurers to hold robust reserves to protect policyholders and absorb potential losses.

Aegon, which does most of its business in the United States under the Transamerica brand, said it would forego its 2019 final dividend and would review opportunities for returning capital to its shareholders “as soon as appropriate”. (Reporting by Bart Meijer Editing by Chizu Nomiyama)

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